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A commenter (by the name of a German citizen) on the Eurointelligence site writes:
Ah, the wonderful world of the keynesian paper-pushers where deficits are surpluses, surpluses are deficits and debt is money. Just pull one lever on a paper chart and - voilá - Europe is fixed.

You are living in fantasy land. The situation in Euroland is one of dramatically different competitiveness and solvency. Pushing a few billions of virtual paper euros somewhere is not going to change this. Spain, Greece and Italy are not going to become more competitve overnight just because a percentage on a paper chart has changed.

Your numbers are plain wrong. Per July 2012, the percentage of german exports to the eurozone has decreased to 36%, the Latin countries are probably zero by now. Germany couldn't care less about the insolvent latin countries.

If you want to have a blueprint for the future of the latin countries, go to eastern germany. The competitive companies were taken over, the non-competitive parts are kept alive by government transfers. But they make nice holiday resorts. Welcome to the new mezzogiorno. And the debt slaves keep on begging for more debt.

Germans are buying hard assets and gold while the paper pushers keep on pushing paper and looking at fantasy charts.



If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Fri Sep 7th, 2012 at 06:26:53 AM EST
Gold, yes, I remember that. Anything Glenn Beck likes must be a good idea.


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sapere aude
by Number 6 on Fri Sep 7th, 2012 at 10:53:44 AM EST
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